26.04.04
New Forklift Hire Company Gets Off the Ground Thanks to Finance Cornwall

A young Cornish entrepreneur has set up his own specialist plant hire business thanks to a £25,000 investment from the Truro-based business finance company Finance Cornwall, a £20 million investment fund backed by £9 million from the Objective One European Regional Development Fund.

Dean James, 27, from Constantine near Falmouth, spotted a gap in the market for providing specialist forklift services to Cornwall's booming construction industry, and decided to set up his own business, Fork It South West.

Thanks to a £25,000 loan from Finance Cornwall and support from Lloyds Asset Finance, Dean has been able to put together a £67,600 investment package to purchase a brand new JCB telescopic handler and set up his new business.

Similar to a forklift, the machinery has the added advantage of being able to lift loads of up to four tonnes up to the height of 65 feet and being hydraulically self-levelling with a special attachment its lift height can be extended to 93 feet making it capable of the highest lift capacity in Cornwall. By fitting attachments the tele-handler can carry out a range of construction site tasks, including excavation and grabbing.

Dean, a fully trained forklift and digger driver, is now offering himself and the plant for hire on construction sites across Cornwall.

He has already secured a major contract with Lark Construction at Ringwell Campsite near Carnon Downs, where a development of new holiday homes is being built, and is considering expanding the company with additional plant and the recruitment of another operator.

Finance Cornwall's loan has also provided the necessary working capital to enable Fork It South West to invest in office and IT equipment and the development of a website which will be going live in the next few weeks.

Dean said: "I couldn't have wished for a better beginning to my own business. Starting up a new company from scratch can be a daunting prospect, especially when it comes to securing the necessary finance to get the idea off the ground.

"Finance Cornwall was really helpful and supportive and more importantly they had faith in my plans to help me out with a deposit for the plant and provide investment for the additional bits and pieces that I needed to get the business going."

Finance Cornwall Fund Manager Jeff Lenihan said: "I'm delighted that Dean's business has got off the ground so well - quite literally! Finance Cornwall specialises in helping people like Dean turn their business aspirations into a reality. We are in tune with the needs of Cornish businesses and can often provide the missing piece of finance that enables a commercially viable project to move ahead, even when they don't have a proven track record.

"The building boom in Cornwall is providing many opportunities for businesses and it's great to see an enthusiastic young person like Dean see the opportunity and grab it!"

Finance Cornwall is based in Truro and offers a complete financial solutions package for local businesses. It provides direct access to £20 million of its own funds, combined with access to expert business planning and ongoing support.

In the last 18 months it has invested more than £1.5 million in 23 Cornish businesses, helping to attract an additional £9.5 million of funding from the private and public sector.

To find out more visit www.financecornwall.co.uk

back to top

Editor's notes:

back to top

Sue Wolstenholme
Objective One Communications
Objective One Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Mob: 07973 813647
Tel: 01579 370991

lmroberts@cornwall.gov.uk

back to top